Less than two months after buying the tech firm AdvisoryWorld for $28 million, LPL Financial says it is giving its 16,000-plus advisors access to a proposal generation tool on its ClientWorks platform.
“We see this as a blowout, not just a touchdown,” said Burt White, head of Investor and Investment Solutions, in an interview Thursday (just three days ahead of the Super Bowl).
“It’s really exciting in terms of what it means for advisors’ workflow. This is all about what we are generating in terms of next steps for advisors …., and we will connect the dots more next week,” White explained.
The independent broker-dealer measures the success of its technology projects and upgrades through “pace and progress,” he adds.
“We’ve been sprinting to deliver this in under 60 days,” White said. “This proposal-generation system, which upgrades our advisors’ capabilities …. is light years ahead of [earlier technology] and puts us in an industry leadership position.”
And the IBD executive says the firm and its related tech developments are only in the early quarter of play.